Key point: 130.00
Our preferred direction: short positions below the level of 130.00 riyals, targeting levels of 110.00, followed by 99.00 riyals.
Alternative scenario: stop loss and change direction by breaching the level of 135.00 riyals, targeting levels of 150.00 riyals.
Comment
The stock broke the main support level around 130.00 riyals. Therefore, we recommend opening short positions to target levels of SAR 110.00, followed by SAR 99.00. In the event that it rises above the level of 135.00 riyals, the previous scenario will be canceled and the first targets for the stock will become 150.00 riyals.
